For the first time, firms can complete an online entry form.

It is also the last chance to nominate inspirational people for The Queen's Award for Enterprise Promotion, which also closes on 31 October. Colleagues or associates must nominate someone for this award; unlike the trade award, individuals cannot suggest themselves.

A spokesman said:

"Winning a Queen's Award is an opportunity to prove to your customers and suppliers just how successful your business is. It is an independent and prestigious endorsement of your company.

"It can open doors to new suppliers, customers, investors and partners - it tells them your company has credibility and should be taken seriously.

"It can also boost sales - some winners have reported impressive increases in turnover since winning a Queen's Award because it helps to raise a company's profile and encourages more customers to choose their business."